Income Fund Reimbursable (IFR) accounts are self-supporting accounts that support
activities related to the campus' mission. These accounts have clear and defined income/expenditure
relationships. A unique aspect of IFR accounts is their ability to carry forward cash
balances from one fiscal year to the next. An IFR account should have basically one
purpose and one revenue source. Each IFR account should maintain a positive cash balance.
The expenses charged to the account should be covered by the revenue which the account
In accordance with NYS Finance Law and SUNY Procedure 7553, NYS A/G and OSC approval
are required for revenue contracts at $25,000.00 and above. Departments are required
to aggregate revenue streams with individual vendors in order to adequately calculate
the total contract value. Departments must be able to demonstrate to NYS that the
revenue the University receives is fair and reasonable.
Questions in this regard should be directed to Mary La Corte or Michael Standridge
in Procurement at 631-632-6010.See checklist for associated process and timeline.